Why Payment Innovation Is Not Enough For Retail

I’ve been fascinated with new methods of electronic payments. There are lots of new offerings, providing ways to use mobile devices and key fobs. I see using them in a rush – at convenience stores, coffee shops, restaurants…but I never imagined using them in a shopping mall. That’s probably because I don’t go to shopping malls anymore. Clearly I’m not the only one. This article from TechCrunch… ” Once a key differentiator, mobile payments are fast becoming a commodity and are widely used by retailers. Yankee Group found that 61 percent of large merchants already use a mobile checkout or plan to in 2014. We are seeing the major payments players recognize this, realizing that they can’t bank on razor-thin profit margins from swiping fees alone.”